Domestic prices have increased slightly in the Italian rebar market, where they are mostly at €410-415/mt ex-works, against the €405-415/mt levels recorded on October 6. Local sources reported that only a few buyers have been able to purchase material at slightly lower prices recently. On the one hand, rebar producers do not see any reason why they should lower their prices, as local scrap prices have not decreased. On the other hand, customers are not very willing to pay higher prices since the market prospects are not encouraging due to the increase in coronavirus cases in the country.
As for the export market, Italian producers' offers for sales via ship are still at €410/mt FOB, though most customers are in wait-and-see mode. As reported previously, the antidumping investigation that was opened in Canada against ex-Italy rebar has had an impact on activities between the two countries. Meanwhile, sales by truck (to markets such as eastern European countries) have remained at decent levels, the representative of an Italian steelmaker told SteelOrbis. However, Italian suppliers are also worried by a possible slowdown in activities due to regional lockdowns around Europe.